News
Knight Capital to launch Hotspot Private Label by end of the year
Private label offering includes administrative and risk management tools and full reporting capabilities
View from a global head of FX
Tim Carrington, global head of FX at Royal Bank of Scotland, talks to Farah Khalique about the exceptionally poor liquidity in FX markets in recent weeks and why he remains bearish on the US dollar but bullish on sterling and the yen
BNPP recruits Goodwin to head corporate sales in New York
Deron Goodwin’s appointment from RBS comes weeks after the departure of Clive Banks and John Chase in London
Saxo secures major private equity shareholder
TPG Capital takes 30% stake in Saxo Bank, with the option to increase to 40% by October
ING recruits Hernandes in hedge fund sales
Javier Hernandes has left RBS in London, along with Paul Glen
Natixis hires FX sales trio from Crédit Agricole
Cheryl Galante and Ellen Galluccio join FX sales team, while Gregory Fage’s appointment as head of FX, rates and money market sales is confirmed
Feller replaces Cousins as Westpac’s head of spot
Reto Feller joins the Australian bank from BlueCrest Capital Management
Swedbank hires Söderlund from BAML
Ex-BAML salesman will start on October 1, reporting to Matz Eriksson
RBS appoints Mount head of FX tech-based trading
Ed Mount joins from Elysium Technology, and has also worked at UBS
Henderson joins State Street Global Markets
John Henderson moves to State Street from Lloyds Banking Group
Regulation is the biggest concern for FX banks, says StreamBase survey
A majority of 52% of respondents to third annual survey cite regulation as their top concern - over and above the growth of competition from high-frequency traders
Lloyds continues hiring spree with Rarity and Khattak
Malcolm Rarity joins FX trading team today, while Asif Khattak will join corporate sales desk in October
Options traders braced for further SNB intervention
Demand has switched from downside EUR/CHF options to upside options in anticipation of further Swiss franc weakening measures from SNB, say senior options traders
SG’s O’Sullivan relocates to New York
Co-head of global FX trading has also appointed Rob Philbin as chief dealer in the US
Trading Places, August 22, 2011
Nomura loses its head of FX options, while Goldman Sachs hires a salesman from JP Morgan
David Chan to take lead role in FX business at SRCB
Joins from ANZ in Australia as deputy general manager of trade financing department
BAML promotes Landes to head EMEA spot desk
Joe Landes relocates from New York to London and will report locally to Chris Bae, head of FX trading EMEA
Banks departs BNP Paribas
BNPP's global head of FX and local market sales left the bank last week and is expected to leave the industry altogether after 24 years
CIBC hires FX strategist in Hong Kong
Patrick Bennett joins locally from Standard Bank
Thomson Reuters extends Elektron hosting to FX
Thomson Reuters Matching will be the first platform to be available through the Elektron proximity hosting service, but independent platforms will be added in due course, the vendor tells FX Week
Swiss franc strength attributed to 'absolutely no liquidity'
Dramatically reduced liquidity in August, coupled with sovereign debt concerns in the eurozone, have combined to strengthen the Swiss franc, say strategists
Sefs lose their painful bite
The prospect of swap execution facilities under the Dodd-Frank Act initially struck fear into the operators of single-dealer platforms facing a possible loss of business. The appearance of the Sef Clarification Act last month, coupled with a changing…
Barnes to return to RBS in October
Former global head of FX will become global head of client macro trading, reporting to Tim Carrington
Trading Places, August 15, 2011
Revolving doors at BAML, appointments at HSBC and cuts at Goldman Sachs